GAAP

stands for: Grazing Area Above Penis

Mike: Dude, Ivik, my GAAP feels like a rusty penny.
Ivik: Oh man I hate when that happens. Its almost worse than an itchy asshole..
Mike: Oh I know it roach. Itchy asshole def sucks a lot, but an itchy GAAP seriously feels worse than getting punched in the spleen by Liam.
Ivik: Liam
Mike: Scotch on the rocks with a lemony twist...
Ivik: Made by Liam
Mike: Let's party DANIIIDE with Crane and our itchy GAAPS.
Ivik: And snuggies

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gaap

stands for: Generally Accepted Accounting Practices

Anyone who works in accounting follows the GAAP

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Gaap

Collective noun: All of the people; the general public; "they"

Gaap flock to the supermarket every Saturday morning at exactly 10am.

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US GAAP

GAAP stands for Generally Accepted Accounting Principles. These are a set of accounting principles for financial reporting. The purpose of this set of rules and standards is; to ensure that financial reporting is clear and consistent from one organization to various agencies/companies.

As a financial controller, I ensure that the company's books and reports are in compliance of US General Accepted Accounting Principles to ensure that all of our quarterly and end of the year fiscal reports are consistent and true. This also helps drives external and internal stakeholders' trust with us. With quarterly reports that are consistent with US GAAP, we can ensure that our company moves in the proper direction that keeps our company's financial health in check and also for our customers as well.

GAAP

Grown ass adult policy

Potential hire: What’s the policy on PTO?
Hiring manager : We have implemented the GAAP. Take whatever time you need as long as your work I’d done.